By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – GS Finance Corp. priced $4.27 million of autocallable contingent coupon notes due Sept. 7, 2027 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5.3% if each index closes at or above its 60% coupon barrier on review date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any interest payment date after one year.
The payout at maturity will be par unless either index falls by more than 40%, in which case investors will be exposed to any losses of the worst performing index.
Goldman Sachs Group, Inc. is the guarantor.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon notes
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Underlying assets: | S&P 500 index and Russell 2000 index
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Amount: | $4,267,000
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Maturity: | Sept. 7, 2027
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Coupon: | 5.3% annualized, payable quarterly if each index closes at or above 60% coupon barrier on review date that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless either index falls by more than 40%, in which case 1% loss for each 1% decline of worse performing index
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Call: | At par plus any coupon if each index closes at or above its initial level on any contingent coupon payment date beginning in August 2018
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Initial levels: | 2,444.24 for S&P and 1,382.229 for Russell
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Coupon barriers: | 1,466.544 for S&P and 829.3374 for Russell; 60% of initial levels
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Pricing date: | Aug. 28
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Settlement date: | Aug. 31
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.95%
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Cusip: | 40054LMN1
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